Accuracy Coverage Pricing Help Centre Contact

BP announce a dividend of 10.5 cents per share for the quarter, an increase of 2.4% on a year earlier

Investment Tools Ltd.
BP announce a dividend of 10.5 cents per share for the quarter, an increase of 2.4% on a year earlier

BP today announced a quarterly dividend of 10.5 cents per ordinary share ($0.63 per ADS), which is expected to be paid on 27 March 2020. The corresponding amount in sterling will be announced on 16 March 2020.

Other financial highlights include:

Cash flow strong, increased disposal plans

- Underlying replacement cost profit for the fourth quarter and full year 2019 was $2.6 billion and $10.0 billion respectively, compared to $3.5 billion and $12.7 billion for the same periods a year earlier, largely reflecting the impact of the weaker environment. Reported profit was $19 million for the fourth quarter and $4.0 billion for the full year.

- Non-operating items in the quarter included a $1.9 billion after-tax impairment charge, mainly for the disposal of US gas assets, and a $0.9 billion charge arising from the reclassification of past foreign exchange losses on the formation of BP's new biofuels joint venture. 

- Full-year operating cash flow, excluding Gulf of Mexico oil spill payments, was $28.2 billion, including a $0.3 billion working capital release (after adjusting for net inventory holding gains).

- Gulf of Mexico oil spill payments for the year totalled $2.4 billion on a post-tax basis, and are expected to be less than $1 billion in 2020.

- Maintaining capital discipline, full-year organic capital expenditure of $15.2 billion was at the bottom of the guided range. Divestments and other disposals announced since the start of 2019 now total $9.4 billion, keeping BP ahead of schedule to meet its target of $10 billion proceeds by end-2020. BP expects to announce a further $5 billion of agreed disposals by mid-2021.

- In January 2020 BP completed its announced share buyback programme.

- Net debt reduced by $1.1 billion in the quarter with gearing at 31.1%, down from 31.7% at the end of the previous quarter.

Continued reliable operations

- Downstream delivered full-year refining availability of 95% and record refining throughput for the second consecutive year. Upstream operated plant reliability was 94.4% for the year.

- Reported oil and gas production averaged 3.8 million barrels of oil equivalent a day in 2019, 2.7% higher than in 2018. Underlying full year Upstream production, which excludes both Rosneft and portfolio changes, was broadly flat with 2018.

Low-carbon expansions, new projects, retail growth

- BP expanded its low-carbon businesses in 2019, increasing ownership in its solar joint venture Lightsource BP to 50%, and completed formation of its new Brazilian biofuels and biopower joint venture, BP Bunge Bioenergia.

- Five Upstream major projects began production in 2019, and final investment decisions were taken for a further five. 

- BP continued its expansion into fast-growing fuels markets during the year and agreed a major fuels joint venture with Reliance Industries Limited in India. 

Companies mentioned

Latest News

Investment Tools Limited

RPS Group have announced a proposed final dividend of 2.00p (FY 2018: 5.08p) providing full year dividend of 4.42p (FY 2018: 9.88p). This follows the rebasing of the dividend announced at H1 2019 and reflects the stated new, sustainable dividend policy of paying out 40% of adjusted earnings.

Read more
Investment Tools Limited

The HSBC Board has announced that the Group's capital strength, has given the Board the confidence to approve an unchanged dividend of $0.51 for 2019.

Read more
Investment Tools Limited

Final proposed dividend up 19% at 2.335 cents per share ($12.0 million) bringing the full-year total dividend to $22.2 million (2018: $20.0 million)

Read more
Investment Tools Limited

The BHP Board has determined to pay an additional amount of 14 US cents per share or US$0.7 billion, taking the interim dividend to 65 US cents per share or US$3.3 billion. This is the second highest ordinary dividend announced and is equivalent to a 63 per cent payout ratio (31 December 2018: 75 per cent).

Read more
Investment Tools Limited

The Ashmore plc Board intends to pay a progressive ordinary dividend over time, taking into consideration factors such as the prospects for the Group's earnings, demands on the Group's financial resources, and the markets in which the Group operates.

Read more
Investment Tools Limited

The Beazley board announces a second interim dividend of 8.2p per ordinary share, in line with their strategy of delivering 5-10% dividend growth. Together with the first interim dividend of 4.1p this takes the total dividends declared for 2019 to 12.3p per ordinary share (2018: first interim dividend of 3.9p plus a second interim dividend of 7.8p, totalling 11.7p).

Read more
Investment Tools Limited

Target Healthcare announce a second interim dividend of 1.67 pence per share declared for the year ending 30 June 2020, representing an increase of 1.5% on the 2019 quarterly dividends. On an annualised basis, this reflects a payment of 6.68 pence per share and a dividend yield of 5.5% based on the closing share price of 122.5 pence on 5 February 2020.

Read more
Investment Tools Limited

Redrow have declared an interim dividend of 10.5p, up 5% on the previous year. A dividend of £72m was paid in the six months to 31 December 2019 (six months to 31 December 2018: £70m).

Read more
Investment Tools Limited

Barratt Developments have a defined dividend policy with the Group paying an ordinary dividend cover of 2.5 times. They have previously announced that when market conditions allow, ordinary dividends will be supplemented with special returns. As previously announced the Board intends to pay a special return of £175m in November 2020. Demonstrating the Board's confidence in the business going forward, it now proposes to pay a further special return of £175m in November 2021.

Read more
Investment Tools Limited

The Smurfit Kappa Board is recommending a final dividend of 80.9 cent per share, a 12% increase year-on-year. It is proposed to pay the final dividend on 15 May 2020 to shareholders registered at the close of business on 17 April 2020.

Read more
More News